Multinational companies are selling their Venezuelan operations at hefty discounts - or even giving them away - as they to seek to escape the OPEC nation's soaring inflation and chronic supply shortages. Six firms, including General Mills and oil producer Harvest Natural Resources, have sold operations for as little as half their assessed value on the companies' books, according to securities filings and interviews with a dozen people knowledgeable about the deals. One company, U.S. autoparts-maker Dana, last year sold its debt-laden Venezuela operations to a local buyer for no cash compensation.

On a per-share basis, the Houston-based company said it had a loss of 55 cents. Losses, adjusted for one-time gains and costs, came to 36 cents per share. The company's shares closed at $4.30. A year ago, ...